Africa
MTN Full-Year Profit Falls 4% as Rand Gains Cuts Income From Other Markets MTN Group Ltd., Africa’s largest
mobile-phone operator, said full-year profit fell after South
Africa’s rand gained, reducing income it earns from abroad when
converted back into the local currency.
Kumba Is In Talks With Ministry About ArcelorMittal Sishen Mining Rights Kumba Iron Ore Ltd., a unit of
Anglo American Plc, is in talks with South Africa’s government
about the rights in the country’s Sishen mine that ArcelorMittal
South Africa Ltd. relinquished by failing to renew in time.
South African Manufacturing Output Advances At Weaker Than Forecast Rate South African manufacturing
production grew at a weaker pace in January than economists
forecasted, indicating a slow recovery from last year’s
recession.
ArcelorMittal South Africa, Kumba Discussed Mine Rights, Fauconnier Says Con Fauconnier, who helped oversee
the 2001 formation of the companies now known as Kumba Iron Ore
Ltd. and ArcelorMittal South Africa Ltd., said they discussed in
depth their responsibilities regarding the renewal of mineral
rights.
South Africa Stocks: AngloGold, Harmony, Investec, MTN, Sanlam Are Active South Africa’s FTSE/JSE Africa All
Share Index slid 15.59, or 0.1 percent, to 28,072.08 by 10:35
a.m. in Johannesburg, paring yesterday’s 0.7 percent drop.
RMB Sells Platinum Holdings, Favors Diversified Miners, McCurrie Says RMB Asset Management sold platinum-
stock holdings over the last two months in favor of shares in
diversified mining companies such as BHP Billiton Ltd., said
Wayne McCurrie, an asset manager
Old Mutual Resumes Dividend Payment, Plans to Sell Unprofitable U.S. Unit Old Mutual Plc, the biggest
insurer in Africa, may sell some U.S. assets to reduce debt
after posting a loss for 2009.
South African Mine Production Rises for First Time Since July, Bureau Says South Africa, the largest producer
of platinum and fourth-biggest coal exporter, said output from
its mines increased for the first time in six months as demand
for commodities picked up along with a global economic recovery.
Rand Declines as Metal Prices Decline and Factory Output Misses Estimates The rand declined for a second day
as precious metals prices fell and manufacturing in South Africa
increased less than analysts estimated, signaling a slower
recovery from last year’s recession.
Zambia Granted a $1 Billion Concessional Loan From China For Development Zambia’s government was granted a
$1 billion concessional loan by China for various development
projects, Commerce, Trade and Industry Minister Felix Mutati
said.
South Africa to Spare 300-Year-Old Stellenbosch Vineyards From Tin Mining South Africa’s government said it
will stop its own company from exploring for and mining tin and
other metals in an area that includes 300-year-old vineyards and
some of the country’s best-known wine estates.
Somali Government to Sign Peace Accord With Islamists, African Union Says Somalia’s transitional government
and the Ahlu Sunna wal Jama’a militia that controls parts of
central Somalia will sign a peace agreement this weekend, an
African Union official said.
South Africa's Cosatu Gauteng Branch Says Julius Malema Can't Be Trusted Julius Malema, leader of the youth
wing of South Africa’s ruling party, can’t be trusted by workers
of the country, the Gauteng branch of the Congress of South
African Trade Union said.
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